Canopy Growth to hire new CEO by end of year: chairman

Canopy Growth Corp.'s chairman says it expects to complete its search for a new chief executive officer by the end of the calendar year.

John Bell adds that the "robust" search is already underway with a number of "well-seasoned" candidates.

Bell's comments came at the cannabis company's annual shareholder meeting in Toronto today, the first to be held since its co-founder Bruce Linton was terminated from his role as co-CEO in July after its biggest shareholder Constellation Brands said it was disappointed in its latest earnings.

Its current chief executive Mark Zekulin, who had previously been co-CEO alongside Linton, has said he would stay on until a suitable replacement was found.

Zekulin told shareholders at the meeting that it was his choice to leave, and it was a "natural progression" for new leadership to drive things forward.

Meanwhile, Linton on Tuesday announced his next moves, which include advisory roles in three companies including U.S.-based dispensary company Gage Cannabis Co. and Australia-based Mind Medicine Inc., which is focused on psychedelic-assisted medicines.